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Scottish prices playing catch-up
05
Sep '08
British Retail Consortium (BRC) announces Scottish shop price index for August 2008.

Year-on-Year: In August overall annual shop price inflation was 4.3% in Scotland, an increase from July's rate of 3.8%. Analysing the average rates over the past year reveals inflation of 1.9%, increasing to 2.8% over six months and 3.5% during the past three months.

Month-on-Month: Compared to this time last month prices have increased by 0.5%, the seventh consecutive month to show positive price movement.

Fiona Moriarty, Director, SRC comments:
“Although shop prices are rising faster in Scotland that doesn't mean Scottish prices are higher than in the rest of the UK.

“The sharp price falls experienced in Scotland throughout the first half of 2007 mean Scottish prices are up only 2.4 per cent since the end of 2005. That compares with 2.8 per cent for the whole UK, clear evidence that competition is intense and retailers are delivering a favourable deal for Scottish customers.”

Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“As shoppers return from their summer holidays many will be reviewing their household budgets .So the next few months will be an important time for retailers in Scotland as they try and keep prices stable by absorbing as much of the increase in their supply chain costs as possible.“

Scottish Retail Consortium

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